Weekly Headlines 30 April 2021

30th April 2021

GoCardless has launched open banking payments

Worldline partners with IATA

Fiserv offers PayPal acceptance

Barclays US offers BNPL

Airbnb chooses Visa Direct

Amex prepares to launch a debit card in China

Viva Wallet launches merchant advance loans

Wellet launches softPOS in Germany

France’s Antitrust Authority warns of big tech’s sway over payment services

 

GoCardless has launched open banking payments

GoCardless has launched open banking payments. With Instant Bank Pay merchants can take instant, one-off bank-to-bank payments from new and existing customers while still reaping the benefits of bank debit for their recurring payments.

According to research from GoCardless, 85% of merchants with this business model have a need for collecting additional one-off payments. Examples include making a first payment when setting up a bank debit (e.g. signing up for a gym membership), purchasing additional goods or services, or topping up an account outside of a customer’s regular payment schedule.

 

Worldline partners with IATA

Worldline announced it has partnered with IATA to give all their member airlines access to a wider range of payment solutions available through IATA Financial Gateway (IFG).

As part of the partnership, Worldline has incorporated Ingenico’s TravelHub solution into IFG. This solution provides companies with easy access to more than 150 online payment methods and offers a range of currency options that are relevant to customers around the globe, including in high growth markets such as Russia, India, Brazil and China. It also offers smart transaction routing capabilities both globally and locally, which improve conversion rates and in turn, revenue.

 

Fiserv offers PayPal acceptance

Fiserv has partnered with PayPal to offer its acceptance in the US.

Under the deal, SMBs using Clover, and large enterprises leveraging the Carat omnichannel commerce ecosystem from Fiserv, will now be able to accept payment via PayPal and Venmo through QR codes presented at the point of sale.

Consumers will be able to initiate payment by scanning the QR code with their PayPal or Venmo app and will receive a digital receipt.

 

Barclays US offers BNPL

Barclays US is joining forces with fintech firm Amount to offer merchants a white label point-of-sale buy now, pay later financing service.

 

Airbnb chooses Visa Direct

Airbnb has chosen Visa Direct to enable its hosts to access their earnings more quickly. Through Visa’s real-time payments platform, hosts will have an option to move money from Airbnb to a bank account associated with an eligible Visa debit card. The new solution for Airbnb Hosts is expected to be available over the course of the next year.

 

Amex prepares to launch a debit card in China

Amex prepares to launch a debit card in China, a move that could be a foundation upon which to expand its debit offering to new countries.

 

Viva Wallet launches merchant advance loans

Viva Wallet is launching Merchant Advance loans for its clients across Europe. The credit products are serviced through Vivabank, leveraging third-party SPVs financing through a loan securitisation process. This is part of the strategy behind the successful acquisition of the digital challenger Praxia Bank last year

 

Wellet launches softPOS in Germany

Wellet has launched an app that converts Android smartphones into a card reader to process payments. There are no monthly usage fees to use the app, and the transaction fee is 1.8%, with early users only expected to pay 1.3%. The limit for contactless payments without entering a PIN code is set by German law, yet Wellet allows users to pay larger amounts without entering a PIN by charging the customer in several, smaller amounts. A smartphone with Android 8.0 or higher and an NFC function is required for proper functioning, and as soon as the certification of the app is completed in May 2021, the app will be available for free download in the Google Play Store.

 

France’s Antitrust Authority warns of big tech’s sway over payment services

France’s Antitrust Authority warns of big tech’s sway over payment services.

Following a one-year inquiry into new payment technologies, the French watchdog says that Apple, Google and Amazon’s payment services enjoy important competitive advantages thanks to the large number of users their platforms have attracted and the trove of data they’ve collected. These allow them to better evaluate their users’ financial health and to adapt their offers, including by estimating the maximum price a customer is willing to pay for a product or a service. 

NFC technology, the most-used short-range wireless tool to make contactless payments, can also constitute an entry barrier for potential competitors, depending on access granted by smartphone makers or operating systems, the watchdog says.

 

 

 

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